Several former St George Bank debt and currency traders are suing it, claiming their redundancy payouts fell short after it merged with Westpac last year. The traders were among some of St George’s highest-paid staff outside the executive ranks. (Business Day)

A powerful Senate committee has recommended the federal government retain the Four Pillars policy on big bank mergers and intensify parliament’s scrutiny of the level of competition in the retail banking market. (The Australian)

Investment banks have earned an estimated $1.6bn in the $90bn-plus equity raising boom over the past year and it took Macquarie Group to highlight what a bonanza the banks have enjoyed. (The Australian)